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Born in Kensington, London, Davies was orphaned by the age of six and was brought up by an uncle, a doctor. Davies enlisted in the Royal Navy in 1901. In 1910 he took private flying lessons, and in 1913 he was accepted into the Royal Naval Air Service (RNAS).

In the early days of the war, Davies and Richard Peirse carried out a number of raids on German submarine bases at Ostend and Zeebrugge. Both were awarded the DSO:

For services rendered in the aerial attack on Dunkirk, 23rd January, 1915:—

Squadron Commander Richard Bell Davies
Flight Lieutenant Richard Edmund Charles Peirse These Officers have repeatedly attacked the German submarine station at Ostend and Zeebrugge, being subjected on each occasion to heavy and accurate fire, their machines being frequently hit. In particular, on 23rd January, they each discharged eight bombs in an attack upon submarines alongside the mole at Zeebrugge, flying down to close range. At the outset of this flight Lieutenant Davies was severely wounded by a bullet in the thigh, but nevertheless he accomplished his task, handling his machine for an hour with great skill in spite of pain and loss of blood.[1]

The KING has been graciously pleased to approve of the grant of the Victoria Cross to Squadron-Commander Richard Bell Davies, D.S.O., R.N., and of the Distinguished Service Cross to Flight Sub-Lieutenant Gilbert Formby Smylie, R.N., in recognition of their behaviour in the following circumstances:—

On the 19th November these two officers carried out an air attack on Ferrijik Junction. Flight Sub-Lieutenant Smylie's machine was received by very heavy fire and brought down. The pilot planed down over the station, releasing all his bombs except one, which failed to drop, simultaneously at the station from a very low altitude. Thence he continued his descent into the marsh. On alighting he saw the one unexploded bomb, and set fire to his machine, knowing that the bomb would ensure its destruction. He then proceeded towards Turkish territory. At this moment he perceived Squadron-Commander Davies descending, and fearing that he would come down near the burning machine and thus risk destruction from the bomb, Flight Sub-Lieutenant Smylie ran back and from a short distance exploded the bomb by means of a pistol bullet. Squadron-Commander Davies descended at a safe distance from the burning machine, took up Sub-Lieutenant Smylie, in spite of the near approach of a party of the enemy, and returned to the aerodrome, a feat of airmanship that can seldom have been equalled for skill and gallantry.[2]

This was the first combat search and rescue by aircraft in history. Like the search and rescue efforts of the future, Davies' action sprang from the fervent desire to keep a compatriot from capture or death at the hands of the enemy; unlike most of those future efforts, it was a one-man impromptu action that succeeded because of a peculiarity in construction of his aircraft. The Nieuport 10 he was flying was a single seat model which had had its front cockpit decked over. When Davies picked him up under rifle fire, Smylie wriggled past Davies and through his controls into the tiny roofed-over front compartment. Smylie was so thoroughly wedged among the controls that, upon landing, it took two hours to extricate him.[3]